AdaptHealth (NASDAQ:AHCO) Shares Gap Up – Here’s What Happened

AdaptHealth Corp. (NASDAQ:AHCO)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $9.09, but opened at $9.64. AdaptHealth shares last traded at $10.3550, with a volume of 644,708 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AHCO. Weiss Ratings reissued a “sell (d+)” rating on shares of AdaptHealth in a report on Wednesday, October 8th. Zacks Research lowered shares of AdaptHealth from a “hold” rating to a “strong sell” rating in a report on Friday, September 19th. Finally, Wall Street Zen raised shares of AdaptHealth from a “buy” rating to a “strong-buy” rating in a research note on Sunday, October 19th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $13.40.

AdaptHealth Stock Performance

The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.82 and a current ratio of 1.06. The stock’s fifty day moving average price is $9.15 and its 200-day moving average price is $9.03. The company has a market capitalization of $1.39 billion, a P/E ratio of 18.99, a PEG ratio of 1.11 and a beta of 1.72.

Insiders Place Their Bets

In other AdaptHealth news, Director David Solomon Williams III sold 8,200 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $9.73, for a total value of $79,786.00. Following the transaction, the director directly owned 50,045 shares of the company’s stock, valued at $486,937.85. This represents a 14.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Reinhart Partners LLC. raised its holdings in AdaptHealth by 1.1% in the 2nd quarter. Reinhart Partners LLC. now owns 7,312,626 shares of the company’s stock valued at $68,958,000 after acquiring an additional 76,364 shares during the period. Invesco Ltd. raised its holdings in AdaptHealth by 50.0% in the 2nd quarter. Invesco Ltd. now owns 1,906,074 shares of the company’s stock valued at $17,974,000 after acquiring an additional 634,973 shares during the period. Iron Triangle Partners LP bought a new position in AdaptHealth in the 1st quarter valued at about $17,496,000. Charles Schwab Investment Management Inc. raised its holdings in AdaptHealth by 14.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,301,652 shares of the company’s stock valued at $14,110,000 after acquiring an additional 163,272 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in AdaptHealth by 82.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,123,834 shares of the company’s stock valued at $10,598,000 after acquiring an additional 509,255 shares during the period. 82.67% of the stock is owned by institutional investors.

About AdaptHealth

AdaptHealth Corp., together with its subsidiaries, sells home medical equipment (HME), medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, such as CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; medical devices and supplies, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy, and nutritional supply needs.